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)• <br />�• <br />' MOSES, WITTEMYER, HARRISON AND WOODRUFF, P.C. <br />LAW OFFICES <br />1002 WALNUT STREET, SUITE 300 <br />DAVID L. HARRISON BOULDER, COLORADO 80302 CHARLES N. WOODRUFF <br />JAMES R. MONTGOMERY L>�+, (1941-1996) <br />(7 �� g <br />TIMOTHY J. BEATON TELEPHONE: (303) 443-8782 �¢ �°°°� COUNSEL <br />VERONICA A. SPERLING FAX: (303)443-8796 �� <br />; -� : . RAPNAEL ]. MOSES <br />� r ' � f ; ' � � JOHN WITTEMYER <br />RICHARD J. MEHREN ADDRESS CORRESPONDENCE TO: r, <br />GABRIEL D. CARTER P. O. BOX 1440 " �"'ana Ly �,�, � <br />BRIAN A. KNUTSEN BOULDER CO 80306-1440 ��" p <br />v�,,zr�, <br />May 4, 2006 <br />BY FAX AND MAIL <br />Rod Kuharich, Director <br />C/o Chad Henderson, Contract Manager <br />Colorado Water Conservation Board <br />1313 Sherman Street, Room 721 <br />Denver, CO 80203 <br />Re: Hone Ditch Companv Loan Contract No. C150218 <br />Dear Mr. Kuharich: <br />This firm represents the Hope Ditch Company ("Company") with respect to the <br />above-referenced loan contract. In order to comply with Section 7 of the above-referenced loan <br />contract, we are providing this opinion letter to complete the process for the Colorado Water <br />Conservation Board's ("CWCB") loan to the Company. This opinion is based on a review of the <br />Company's Bylaws and Articles of Incorporation and upon our discussions with representatives <br />of the Company. <br />Based the above-referenced information, it is our opinion: (1) that the loan <br />contract has been duly executed by officers of the Company who are duly elected or appointed <br />and are authorized to execute the loan contract and to bind the Company; (2) that the Company's <br />Board of Directors has duly adopted a resolution authorizing the Company to erter into the <br />contract for the loan amount; (3) there are no provisions in the Company's Articles of <br />Incorporation or Bylaws and we know of no state or local law that prevent this contract from <br />binding the Company; (4) that the signature of Kim Duran, President of the Company and the <br />attestation of Annie McCain, Secretary of the Company will make the loan contract valid and <br />binding against the Company if entered into by the CWCB. <br />